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Sunday, 15 April 2012

Great
Eastern expects its takaful contributions to grow from RM20 mil last year to
RM70 mil this year. The growth in conventional insurance premiums is expected
to hit 15% in 2012. Investment-linked business is expected to do well this year
after growing 50% in 2010 and 20% in 2011.http://bit.ly/HIYcC9

GREAT
Eastern Life Assurance (M) Bhd (Great Eastern) expects a better year this year,
driven by the growing interest in investment-linked insurance plans and
still-low market penetration rate of life insurance here.

MNRB Holdings Bhd is drafting a five-year plan to drive the
reinsurance group to the next level of profitability.-----------------------------------------------------------------------------------------------------

Kurnia
will be sold to AmG at a price of RM1.55 bil to be settled in cash. This values
Kurnia at 2.05 times book value. Post acquisition, both AmG and Kurnia brands
will be used and the integration is expected to take 2 years. The combined
AmG-Kurnia business will command 13% of GI market share and with 22% market
share in motor insurance, as measured by gross written premium. Post merger,
Kurnia will concentrate on its GI businesses in Indonesia and Thailand.http://bit.ly/HCJ8tt,http://bit.ly/Hxzm5G,http://bit.ly/IYocGW

Malayan
United Industries Bhd (MUI) has applied to Bank Negara Malaysia for its
approval to dispose of the insurance assets and liabilities of MUI Continental
Insurance to Tokio Marine Insurans (Malay...

Lonpac
has increased its revenue by 18.6% to RM230 mil in Q1 2012 as compared with the
same quarter last year. However, claims experience has worsen due to high
frequency of catastrophic losses and increased in number of fire and motor
claims.http://bit.ly/HxwCKN

Takaful
Ikhlas expects Sabah and Sarawak to bring in RM50 mil contribution this year as
compared to RM37.7 mil last year. The company is also developing
investment-linked products due to their popularity.http://bit.ly/IQ7x8s

BUTTERWORTH:
Great Eastern Takaful Sdn Bhd (GETSB) is aiming for RM124 million in takaful
contribution (or premium in conventional insurance) this year after achieving
RM7.6 million in the first quarter.

ING
Insurance Agency Force Association Malaysia (INGIAFAM) has sought compensation
from ING on the latter's planned insurance unit sell-off exercise. The agency
forces of ING Hong Kong and ING Korea were apparently compensated from the
selling exercise. It is understood that BNM did not agree to INGIAFAM's
request.http://bit.ly/HtRiTA